Microsoft® Project as a Risk Management Tool

What is it about?

Risk Management involves three processes, namely, risk analysis, risk mitigation, and controls evaluation (Rainer & Turban, 2008). Microsoft® Project 2010 can assist project managers in the risk analysis and mitigation processes. Risk management is an important aspect of project management (Merna & AL-Thani, 2008). Microsoft® Project 2010 is one of the popular project management tools.

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Why is it important?

The key advantage for Microsoft® Project 2010 over other commercial and open-source project management tools is the availability of a number of third-party companion products that provide extensive qualitative and quantitative risk analysis tools and techniques. Project managers have the option of using one or more of these risk analysis tools to conduct risk assessment of their projects.